Fred's Inc. signed a three-year lease for 18,700 square feet at 6625 Lenox Park Blvd. in early July. The lease occurred roughly concurrent with the company selling its longtime headquarters on Getwell Road. The Getwell property holds a 758,000-square-foot warehouse, a 65,000-square-foot retail building, and two office towers totaling about 224,000 square feet. Montreal-based Olymbec bought it for $8.25 million. The discount retailer's new office building is one of three in Lenox Park owned by Eightfold Real Estate Capital and the leaders of Avison Young's local office. When they were acquired in 2017 and 2018, the buildings were all nearly vacant. But, in the past year, the ownership group has completed a 12,000-square-foot lease with University Clinical Health, a 7,000-square-foot lease with Allied Universal, and a 6,000-square-foot lease with Trax Technologies. The group purchased the buildings, which range from 103,000 square feet to 105,000 square feet, for about $2.6 million each. It's renting them for about $18 per square foot - a rate Donahoe expects to rise as the buildings become less vacant. Currently, the buildings are still about 40%, 70%, and 100% vacant, respectively, but Avison Young expects those numbers to drop significantly by mid-2020.